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8-K - VistaGen Therapeutics, Inc. | form8k-05012017_010526.htm |
VistaGen Therapeutics’ Largest Stockholder Signs
6-Month Lock-Up Agreement
SOUTH
SAN FRANCISCO, CA -- (Marketwired – May 1, 2017)
-- VistaGen Therapeutics
Inc. (NASDAQ: VTGN), a clinical-stage biopharmaceutical
company focused on developing new generation medicines for
depression and other central nervous system (CNS) disorders,
announced today that its largest institutional stockholder, holding
both common stock and substantially all (99.3%) of the
Company’s outstanding preferred stock, entered into a 6-month
lock-up agreement. Under the agreement, the stockholder and its
affiliates agreed to not enter into any transaction involving the
Company's securities during the term of the agreement, which runs
through late-October 2017 and covers approximately 36% of the
Company’s issued and outstanding equity securities on an as
converted basis.
About VistaGen
VistaGen
Therapeutics, Inc. (NASDAQ: VTGN), is a clinical-stage
biopharmaceutical company focused on developing new generation
medicines for depression and other central nervous system (CNS)
disorders. VistaGen's lead CNS product candidate, AV-101, is in
Phase 2 development as a new generation oral antidepressant drug
candidate for major depressive disorder (MDD).
AV-101's mechanism of
action is fundamentally differentiated from all
FDA-approved antidepressants and atypical antipsychotics used
adjunctively to treat MDD, with potential to drive a paradigm shift
towards a new generation of safer and faster-acting
antidepressants. AV-101 is currently being evaluated by the U.S.
National Institute of Mental Health (NIMH) in a Phase 2 monotherapy
study in MDD being fully funded by the NIMH and conducted by Dr.
Carlos Zarate Jr., Chief, Section on the Neurobiology and Treatment
of Mood Disorders and Chief of Experimental Therapeutics and
Pathophysiology Branch at the NIMH. VistaGen is preparing to launch
a 180-patient Phase 2 study of AV-101 as an adjunctive treatment
for MDD patients with inadequate response to standard, FDA-approved
antidepressants. Dr. Maurizio Fava of Harvard University will be
the Principal Investigator of the Company's Phase 2 adjunctive
treatment study. AV-101 may also have the potential to treat
multiple CNS disorders and neurodegenerative diseases in addition
to MDD, including chronic neuropathic pain, epilepsy, and symptoms
of Parkinson's disease and Huntington's disease, where modulation
of the NMDAR, AMPA pathway and/or key active metabolites of AV-101
may achieve therapeutic benefit.
VistaStem
Therapeutics is VistaGen's wholly owned subsidiary focused on
applying human pluripotent stem cell technology, internally and
with collaborators, to discover, rescue, develop and commercialize
proprietary new chemical entities (NCEs), including small molecule
NCEs with regenerative potential, for CNS and other diseases, and
cellular therapies involving stem cell-derived blood, cartilage,
heart and liver cells. In December 2016, VistaGen exclusively
sublicensed to BlueRock Therapeutics LP, a next generation
regenerative medicine company established by Bayer AG and Versant
Ventures, rights to certain proprietary technologies relating to
the production of cardiac stem cells for the treatment of heart
disease.
For
more information, please visit www.vistagen.com and
connect with VistaGen on Twitter, LinkedIn and Facebook.
Forward-Looking Statements
The statements in this press release that are not historical facts
may constitute forward-looking statements that are based on current
expectations and are subject to risks and uncertainties that could
cause actual future results to differ materially from those
expressed or implied by such statements. Those risks and
uncertainties include, but are not limited to, risks related to the
successful launch, continuation and results of the NIMH's Phase 2
(monotherapy) and/or the Company's planned Phase 2 (adjunctive
therapy) clinical studies of AV-101 in MDD, and other CNS diseases
and disorders, protection of its intellectual property, and the
availability of substantial additional capital to support its
operations, including the Phase 2 clinical development activities
described above. These and other risks and uncertainties are
identified and described in more detail in VistaGen's filings with
the Securities and Exchange Commission (SEC). These filings are
available on the SEC's website at www.sec.gov.
VistaGen undertakes no obligation to publicly update or revise any
forward-looking statements.
Company Contact:
Mark A.
McPartland
VistaGen
Therapeutics Inc.
Phone:
+1 (650) 577-3600
Email: IR@vistagen.com